The unemployment rate in the Valley of the Sun and around the state dropped to historically low levels, the government reported Nov. 16.
In the Phoenix metro area, the unemployment rate in October fell 0.3 percent to 3.7 percent, according to the Arizona Office of Economic Opportunity. The state unemployment rate fell to 4.5 percent—the lowest since December, 2007, according to the Office of the Governor. The national rate is 4.1 percent.
The metro-area workforce increased by 34,600 to 2.3 million, or 1.7 percent over the same month last year, according to a statement released by the City of Phoenix. Those gains were offset by nearly 3,000 job losses reported in Tucson, and less than 1,000 fewer jobs each for Flagstaff and Prescott.
Manufacturing jobs in the Valley increased by 4,200 over October 2016. There are now 124,200 manufacturing jobs in the region. There are now 111,200 construction jobs in the Valley, compared to 130,000 in October 2008.
The Phoenix metro area has seen notable changes in the workforce over the past decade. Comparing the latest jobs figures to October 2008 by sector:
- Education & Health Services: Up 36.6%
- Leisure & Hospitality: Up 25.7%
- Financial Activities: Up 22.3%
- Manufacturing: Up 22.6%
- Natural Resources & Mining: Down 17.9%
- Government: Down 2.3%
“Arizona’s entrepreneurs are continuing to hire and expand their businesses, and thanks to their hard work, we’re experiencing our lowest unemployment rate in nearly a decade,” said Gov. Doug Ducey.
Since 2015, the state as a whole has added more than 140,000 private sector jobs, according to Ducey’s office.